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Aggressive ECB Stimulus Ushers In New Era for Europe

European Central Bank to Purchase €60 Billion in Assets Each Month Starting in March

The European Central Bank announced an expanded stimulus program amounting to €60 billion ($69 billion) a month in asset purchases in an effort to revive the eurozone’s struggling economy. WSJ's Katie Martin explains what it means and what to watch for. Photo: AP.

FRANKFURT—The European Central Bank ushered in a new era by launching an aggressive bond-buying program Thursday, shifting pressure to Europe’s political leaders to restore prosperity in one of the global economy’s biggest trouble spots. (Update:Eurozone consumer prices fall sharply).

Investors cheered the ECB’s commitment to flood the eurozone with more than €1 trillion ($1.16 trillion) in newly created money, sparking a rally in stock and bond markets and sending the euro plunging.